The Federal Government, on Thursday, signed the Cape Town Convention (CTC) Practice Direction in a bid to reduce the cost of doing business in the Nigerian aviation sector.
The agreement includes reducing the cost of insuring airlines and enabling domestic airline operators to dry lease aircraft, among others.
The CTC Practice Direction was signed by the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, during a stakeholders’ meeting of the Presidential Enabling Business Environment Council (PEBEC) chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.
The signing of the agreement will ensure the Cape Town Convention becomes fully operational in Nigeria, thereby reducing the cost of insurance for airlines, restoring investors’ confidence in the Nigerian aviation sector, and reducing the cost of doing business in the nation’s aviation sector.
